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Website Ranking Issue

We have been performing our own onsite of offsite SEO along with external assistance and have ranked well over the years with minimal impact from Google updates.

Howevr the last so called Panda update has affected us heavily pushing our main phrase 'web design melbourne' from 2nd to 7th where we have been for almost 2 months now on Google.com.au irrespective of onsite or offsite work.

We have been trying to find signs of any onsite, IP, duplicate content, titles or other issues that may be holding us back to no avail. The only flag that Google webmaster tools is showing is a number of bad internal site links, which I think is a glitch with the CMS we are using.

Even the SEO MOZ tool gives us a higher ranking compared to most competitors on page 1 of Google.com.au for our main phrase.

The biggest difference between us and competitors is we chose to target an internal page specific to the topic rather than our homepage. With this sadi we have also reduced our keyword density and content quantity inline with the other sites homepages.

Can anyone help shed some light on this? and perhaps something obvious that we have missed, or where we should be looking?

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